TUE AM News: Talking Trade with Judith Pryor, Export-Import Bank of the United States; WiSys submits preliminary proposal for NSF Engines program

August 27, 2024

— The latest episode of “Talking Trade” features banking insights from Judith Pryor, first vice president and vice chair of the Export-Import Bank of the United States Board of Directors.

EXIM Bank, created in 1934 under President Franklin D. Roosevelt, is celebrating its 90th anniversary this year. The bank acts as the official export credit agency of the U.S. government, providing direct loans, loan guarantees, working capital, supply chain finance guarantees and export credit insurance for U.S. businesses.

“We’re considered sort of the bank of large exporters, right, the high-dollar items, and we do quite a bit,” Pryor said. “In fact, last fiscal year we supported over $8.5 billion in finance throughout the world.”

Still, she notes 80% of its transactions are with American small businesses. As one example, Pryor highlighted Mathews Archery in Sparta, Wis., which the bank has helped export $22 million over the past decade.

“We can guarantee, or lend, up to $135 billion,” she said. “Today, our exposure is around $34 billion, so we have plenty of room to grow.”

The interview explores the role of EXIM Bank in global competitiveness as part of the Organisation for Economic Co-operation and Development, which has dozens of friendly member countries. The OECD provides guidelines so comparable agencies in this framework aren’t undercutting one another in the international marketplace.

“Now China, of course, is not a member of the OECD,” she said. “But in my opinion, we need to lead by example in order to encourage countries who are not members to play by the same rules.”

Pryor also discusses how the OECD is undergoing a “modernization” process, offering more favorable term options for those building solar or wind energy technology developments.

“If it’s clean, if it’s green, certain sectors — energy storage, energy efficiency, renewable — let’s lean in and provide longer term limits for those repayment terms,” she said.

Talking Trade is hosted by E.M Wasylik Associates Managing Director Ken Wasylik and M.E. Dey & Co. President and Managing Director Sandi Siegel.

Watch the show here.

“Talking Trade” is now available in audio form on Apple Podcasts, Google Podcasts and other platforms. Subscribe and find more episodes here.

— WiSys has submitted a preliminary proposal for the Wisconsin Forward Agriculture Engine effort, aimed at landing $160 million in federal funding.

The submission earlier this month came after project partners submitted a letter of intent in June as part of the ongoing application process for the National Science Foundation’s flagship Engines program. The Wisconsin-based partnership last year received a $1 million development award from the NSF, laying the groundwork for the larger potential Type Two award.

WiSys yesterday announced it had submitted its latest proposal, supported by more than $35 million in partner resources committed to the effort. The organization, established in 2000, acts as the technology transfer office for Universities of Wisconsin campuses other than UW-Madison.

“Winning an NSF Engine would transform Wisconsin into a world leader in resilient and sustainable agriculture,” the group wrote in an email update.

The state’s Forward Agriculture Engine effort aims to improve sustainability in food and agriculture systems while driving resilience to climate change and other factors. It has a goal of ensuring national competitiveness in the ag sector, “inclusive prosperity” and improved human health.

Partners include farmers and products, higher education, tribal nations, businesses, investors, government entities and nonprofits, according to an excerpt from the proposal. They aim to develop climate-resilient ag production and distribution along with better soil and water quality, while converting more food waste into useful products.

The full proposal submission is due Feb. 11, 2025, and awards will be announced in 2025 or 2025, according to the update.

See more on the NSF program here.

— Madison-based Invenra has received special drug designations from the FDA for an antibody treatment aimed at a type of cancer called neuroblastoma.

This rare form of cancer develops in early forms of nerve cells, occurring most often in infants and young children, according to the American Cancer Society.

The company recently announced its INV724 antibody treatment has been selected for rare pediatric disease and orphan drug designations by the federal agency. Its release highlights a number of benefits linked to the designations, including extended market exclusivity, eligibility for grants and research support.

“The FDA’s RPDD and ODD designations not only validate our innovative approach but also give us the critical support to fast-track its development in collaboration with potential partners,” Invenra CEO Roland Green said in a statement. “We are eager to bring this therapy to patients who need it most.”

The treatment, created in partnership with the UW Carbone Cancer Center, helps “mitigate the severe pain” associated with certain targeted therapies. The company says it has shown promising results in the preclinical phase, suggesting “strong therapeutic potential and robust developability.”

Dr. Paul Sondel, a professor of pediatrics and human oncology at UW-Madison, says certain antibody treatments are key to treating neuroblastoma but are often limited by intense pain.

“Our studies indicate that INV724 binds effectively to neuroblastoma cells while sparing nerves, offering a significant advantage over existing therapies,” Sondel said in the announcement. “Our next goal is to transition from laboratory research to clinical trials, aiming to provide effective treatment with fewer side effects.”

See the release and see more at Madison Startups.

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— The Wisconsin Center for Manufacturing & Productivity is hosting a series of events in October to reveal findings of its fourth Wisconsin Manufacturing Report.

Scheduled readout events will be held Oct. 2 in Brookfield, Oct. 3 in Green Bay and Oct. 23 in Menomonie. The first two will go from 4 p.m. to 5:30 p.m., while the third doesn’t yet have a scheduled time or registration link.

— Associated Builders and Contractors of Wisconsin will be led by Kelly Tourdot starting Sept. 20, as current President John Mielke takes a new role with the organization at the national level.

The group yesterday announced Tourdot as its new president, after she has spent 28 years with the state chapter of the trade association. She’s worked as an apprenticeship director, vice-president and executive director of the ABC Apprenticeship and Training Trust.

“It is my honor to serve ABC of Wisconsin’s hard-working members,” Tourdot said in a statement. “Our members are ‘salt of the earth’ people, supporting family businesses, creating jobs and opportunities, and working with excellence on construction projects across the state.”

See the release.

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